1964_MONEY_LENDERS_ORDINANCE — Page 15

HK Historical Laws 香港歷史法例 All AI Reviewed

CAP. 163]

Money Lenders

(1988 Ed.

(a) in the case of a firm, in the membership thereof whether by reason of an amalgamation or the reduction of the number of partners or otherwise;

(b) in the case of a company-

(i) in the officers thereof;

(ii) in the control thereof by any person;

(iii) in the number of shares, or shares of a prescribed class, therein held by any person whereby the nominal value of any such shares held by that person exceeds such proportion of the nominal value of the share capital thereof or of the issued shares of that class, as the case may be, as may be prescribed;

(c) in the persons responsible for the management of his business as a money lender at any premises where the business is carried on,

the licensee shall give notice in writing of such change to the Registrar within 21 days after the change takes place and the Registrar may in respect of any such change enter such particulars, or alter any particulars entered, in the register as he thinks fit. (Amended, 69 of 1988, s. 14)

(2) Where notice of any change is given to the Registrar under subsection (1), the Registrar may by notice in writing require the licensee to furnish him with such information, verified in such manner, as the Registrar may specify with respect to such change.

PART III

MONEY LENDERS' TRANSACTIONS

Form of agreement

18. (1) No agreement for the repayment of money lent by a money lender or for the payment of interest on money so lent, and no security given to any money lender in respect of any such agreement or loan, shall be enforceable unless---

(a) within 7 days after the making of the agreement, a note or memorandum in writing of the agreement is made in accordance with subsection (2) and signed personally by the borrower, and a copy of such note or memorandum is given to the borrower at the time of signing; and

(b) there is included in or attached to such copy a summary, in such form as may be prescribed, of such provisions of this Part and Part IV as may be prescribed,

and no such agreement or security shall be enforceable if it is proved that the note or memorandum was not signed by the borrower before the money was lent or the security was given.

(2) The note or memorandum shall contain all the terms of the agreement and in particular shall set out—

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14 CAP. 163] Money Lenders (1988 Ed. (a) in the case of a firm, in the membership thereof whether by reason of an amalgamation or the reduction of the number of partners or otherwise; (b) in the case of a company- (i) in the officers thereof; (ii) in the control thereof by any person; (iii) in the number of shares, or shares of a prescribed class, therein held by any person whereby the nominal value of any such shares held by that person exceeds such proportion of the nominal value of the share capital thereof or of the issued shares of that class, as the case may be, as may be prescribed; (c) in the persons responsible for the management of his business as a money lender at any premises where the business is carried on, the licensee shall give notice in writing of such change to the Registrar within 21 days after the change takes place and the Registrar may in respect of any such change enter such particulars, or alter any particulars entered, in the register as he thinks fit. (Amended, 69 of 1988, s. 14) (2) Where notice of any change is given to the Registrar under subsection (1), the Registrar may by notice in writing require the licensee to furnish him with such information, verified in such manner, as the Registrar may specify with respect to such change. PART III MONEY LENDERS' TRANSACTIONS Form of agreement 18. (1) No agreement for the repayment of money lent by a money lender or for the payment of interest on money so lent, and no security given to any money lender in respect of any such agreement or loan, shall be enforceable unless--- (a) within 7 days after the making of the agreement, a note or memorandum in writing of the agreement is made in accordance with subsection (2) and signed personally by the borrower, and a copy of such note or memorandum is given to the borrower at the time of signing; and (b) there is included in or attached to such copy a summary, in such form as may be prescribed, of such provisions of this Part and Part IV as may be prescribed, and no such agreement or security shall be enforceable if it is proved that the note or memorandum was not signed by the borrower before the money was lent or the security was given. (2) The note or memorandum shall contain all the terms of the agreement and in particular shall set out— Page 15 Page 16

Baseline (Original)

14 CAP. 163] Money Lenders (1988 Ed. (a) in the case of a firm, in the membership thereof whether by reason of an amalgamation or the reduction of the number of partners or otherwise; (b) in the case of a company- (i) in the officers thereof; (ii) in the control thereof by any person; (iii) in the number of shares, or shares of a prescribed class, therein held by any person whereby the nominal value of any such shares held by that person exceeds such proportion of the nominal value of the share capital thereof or of the issued shares of that class, as the case may be, as may be prescribed; (c) in the persons responsible for the management of his business as a money lender at any premises where the business is carried on, the licensee shall give notice in writing of such change to the Registrar within 21 days after the change takes place and the Registrar may in respect of any such change enter such particulars, or alter any particulars entered, in the register as he thinks fit. (Amended, 69 of 1988, s. 14) (2) Where notice of any change is given to the Registrar under subsection (1), the Registrar may by notice in writing require the licensee to furnish him with such information, verified in such manner, as the Registrar may specify with respect to such change. PART III MONEY LENDERS' TRANSACTIONS Form of agreement 18. (1) No agreement for the repayment of money lent by a money lender or for the payment of interest on money so lent, and no security given to any money lender in respect of any such agreement or loan, shall be enforceable unless--- (a) within 7 days after the making of the agreement, a note or memoran- dum in writing of the agreement is made in accordance with subsec- tion (2) and signed personally by the borrower, and a copy of such note or memorandum is given to the borrower at the time of signing; and (b) there is included in or attached to such copy a summary, in such form as may be prescribed, of such provisions of this Part and Part IV as may be prescribed, and no such agreement or security shall be enforceable if it is proved that the note or memorandum was not signed by the borrower before the money was lent or the security was given. (2) The note or memorandum shall contain all the terms of the agreement and in particular shall set out— Page 15Page 16

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